Jojoba Oil Market Likely To Touch At 6.6 Million By 2030: Grand View Research Inc.

Posted by Mrudula Anil Karmarkar on January 4th, 2024

San Francisco, 04 January 2024: The ReportJojoba Oil Market Size, Share & Trends Analysis Report By Type, By Application (Cosmetics & Personal Care, Pharmaceutical), By Sales Channel (B2B, B2C), By Region, And Segment Forecasts, 2023 - 2030

The global jojoba oil market size is expected to reach USD 236.6 million by 2030 and is expected to expand at 7.7% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the high demand from key end-use industries, especially personal care & cosmetics, and pharmaceuticals.

Jojoba oil is widely used as an active ingredient in the personal care & cosmetic industry. The product continues to gain popularity in several cosmetic formulations such as serums, lip balms, lip colors, face oils, etc. owing to its antioxidant properties. Industry players such as L’Oréal, and Sephora have developed jojoba oil-based cosmetic product lines. Growing consumer inclination toward natural and organic products is expected to drive the demand for jojoba oil in cosmetic products.

Favorable technological advancements are significantly contributing to the overall product demand by continuously enhancing both the chemical and microbiological qualities of the oil. However, jojoba oil is an expensive raw material for manufacturers in the cosmetics and personal care industries, which is expected to pose a restraint to market growth.

The growing popularity of the product and its benefits have fostered research and development activities as well as given rise to several startups globally. Several new players have emerged in the market owing to the growing popularity of the product. Industry players are focusing on price differentiation and attractive product packaging to gain consumer attention.

This is attributable to the growing inclusion of the product in cosmetics & personal care formulations. Jojoba oil is widely utilized across numerous end-use industries, including cosmetics & personal care, spa & relaxation, and medical as a substitute raw material for conventional products. Jojoba oil is primarily used in several hair care, skin care, eye care, and makeup products owing to its moisturizing, antioxidant, and anti-bacterial properties

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In addition, the oil assists in the treatment of dermatitis, acne, and stretch marks. It can also be used as a body care product to improve the health of hair and nails, thereby increasing its appeal among women and female teenage consumers.

The rising disposable income of consumers and the high population of working women in the U.S. are expected to be major drivers for this industry. Increasing awareness regarding feminine hygiene and health has also promoted the adoption of natural products and cosmetics. Mature markets such as the U.S. and the U.K. have witnessed a significant demand for natural personal care products. Major brands such as Melvita, Annemarie Borlind, JÄ€SÖN, and Avalon Organics are increasing the content of natural ingredients in their products.

Jojoba Oil Market Report Highlights

• The cold-pressed type product segment is expected to witness the fastest CAGR of 8.2% over the forecast period due to its characteristics such as chemical-free, naturally sourced, and high-purity content
• The cosmetics & personal care application segment is expected to witness the fastest CAGR of 8.2% during the forecast period owing to the rise in demand for cosmetic products that are sourced with natural and organic ingredients
• B2B sales channel is expected to grow at the highest CAGR of 7.8% over the forecast period owing to the cost-effectiveness brought by newly established platforms which have strengthened B2B relationships with oil businesses
• North America is anticipated to witness the fastest CAGR of 8.6% during the forecast period, owing rise in demand for cosmetics products in developed economies
• Hair care products are anticipated to witness high demand owing to a surge in innovation in hair styling techniques and consumer awareness about pleasing appearance, especially in developed economies such as the U.S. and the U.K.
• Growing need for natural and quick-fixing hair solutions to prevent damage caused due to pollution and several other factors is anticipated to have a positive influence on the market in the near future
• Growing popularity of jojoba oil along with favorable regulatory policies in countries like the U.K. and the U.S. is likely to play a key role in providing opportunities for new entrants

Jojoba oil is a developing market and gaining importance on account of its high-performance ingredients, such as vitamins & nutrients, which include fatty acids such as omega 6 & omega 3, tocopherols, and beta amyrine. They help in accelerating cell growth and strengthen its antiseptic & anti-inflammatory properties. As a result, it is gaining increasing importance in cosmetics & personal care products.

Skin and hair care product manufacturers that use the oil for developing advanced cosmetic solutions generate the maximum product demand. These products are marketed under the premium products category. Furthermore, consumer inclination and readiness to pay a high price for premium products along with the growing preference toward natural and organic products have augmented the demand for jojoba oil in the cosmetic and personal care industries.

Jojoba Oil Market Report Scope 

Refined jojoba oils initially go through the same process as cold-pressed oils but are further processed using solvent extraction, bleaching, and deodorization to remove impurities, undesirable colors, and scents. These oils are stable owing to their high-temperature processing. They are cheaper and possess a longer shelf life as well as are odor-free than cold-pressed oils.

List of Key Players in the Jojoba Oil Market

• Purcell Jojoba
• Inca Oil SA
• Ecooil
• ConnOils LLC
• Jojoba Naturals
• JD Jojoba Desert
• Hallstar
• Nutrix International LLC
• US Organic Group Corp
• OPW Ingredients GmbH